TurboTax does have a cryptocurrency hub that does contain answers to many questions about the different ways it is taxed.
Cryptocurrency from mining is considered self-employment income as the fair market value in USD when you get the currency. To get to self-employment in TurboTax Desktop Home & Business:
- Go to the Business section and Business Income and Expenses.
- Enter the General Business Information then click Start next to Business Income.
- Report your cryptocurrency mining income as General Income.
Earnings through interest and rewards are considered Other Income and would be reported in TurboTax Desktop using the following steps:
- With your return open, go to Personal > Personal Income
- Open the Less Common Income section and start or revisit the last entry, Miscellaneous Income, 1099-A, 1099-C.
- On the next screen, start/revisit the very last entry, Other Reportable Income, and answer Yes on the following screen.
- On the next screen, enter a description (for example, "crypto interest") and then enter the total USD amount.
- You may repeat this for every currency for which you received interest or a reward or combine them on a single line.
- Select Continue when finished.
Thank you for your suggestion that cryptocurrency importing continues to be supported in TurboTax Desktop. We will pass it along to our Content Department.
@JoeFM
